Morning Release of 02 August 2018.

Outlook

Nifty opened making a new all time high of 11391 and immediately reversed the trend, and remained consolidated. With the RBI policy issue, the market touched a low of 11313 and wrapped up with a change of -0.09% at 11346. Nifty is expected to remain sideways with an immediate resistance of 11376-11410 and support of 11300-11288.

Indian shares shed early gains to end lower on Wednesday, pulled down by financial and auto stocks, after the Reserve Bank of India raised interest rates for the second straight meeting. The RBI’s Monetary Policy Committee (MPC) raised the repo rate by 25 basis points to 6.50%. It is the first time since October 2013 that the rate has been increased at consecutive policy meetings. The reverse repo rate (RRR) was also raised by 25 basis points to 6.25%.

The benchmark BSE index snapped an eight-session winning streak to end 0.23% lower at 37521.62. The broader NSE Nifty closed 0.09% lower at 11346.20. It had hit an all-time high of 11390.55 earlier in the session.

Top Gainers

Company Name

Close (in INR.)

% Change

COALINDIA

270.50

+3.60%

LUPIN

844.00

+2.38%

IOC

168.20

+2.34%

Top Losers

Company Name

Close​ (in INR.)

% Change

HINDALCO

208.00

-2.53%

ICICIBANK

297.00

-2.38%

MARUTI

9327.00

-2.03%

52 week High & Low

Company Name

Close​ (in INR.)

High or Low?

ADANIGREEN

63.40

HIGH

ASTRAZEN

1615.00

HIGH

ABGSHIP

5.15

LOW

DIAPOWER

1.90

LOW

Indices

Indices

Last Trade

% Change

NIFTY

11346.20

-0.09%

NIFTY IT

14679.35

+0.63%

NIFTY PHARMA

9301.70

+1.33%

NIFTY FMCG

31175.10

+0.54%

NIFTY REALTY

273.35

+0.18%

BANK NIFTY

27596.60

-0.60%

INDIA VIX

12.53

+0.40%

FII/DII Activity as on 01 August 2018

Investor

FII

DII

Net Change (in Cr.)

-95.94

-562.33

Corporate Events​ & ​Results Corner

Honda Cars India reported a 17% increase in its domestic sales to 19970 units in July, riding on the back of strong sales of new Amaze.

Apollo Tyres posted nearly three fold rise in consolidated net profit at INR. 251.84 Cr. for the June quarter, driven by robust sales across various markets including India and Europe.